Gold Prices climbs farther from its 4 month lows in Wednesday’s session as investors held their breaths as they awaited testimony from the U.S. Federal Reserve Chain Janet Yellen. Central Bank Officials were also cautious for further interest hikes.
Even before the Federal Reserve Chair Janet Yellen released her testimony to the congress, the current state of the U.S. economy, her colleagues identified a low wage growth and muted inflation uncertainty on further interest rate increases.
Spot gold rose 0.1 percent and was traded at $1,218.60 per ounce, adding another 0.1 percent gain to a 0.3 gain in the previous session, its biggest rise since June 23.
U.S. gold futures for august deliveries rose by 0.3 percent to trade at $1,218.30 per ounce.
Less than half an hour has passed but the Dow Jones Index have dropped by about 150 points after the son of President Trump released an email chain about his meeting with a “Russian government attorney”
The sudden drop in the market was noticeable, but modest. The market showed a decline of 0.7% hardly something to worry about in the Wall Street’s market.The emails were sent just before the New York Times publish a news story about the said meeting, a few minutes after that the Dow has fallen to 21,285, which is a 153 drop from when the emails were put out.